I hope most of us who were to file their ITR in Jul would have done that or would be doing that in next couple of days as the date is extended to 5th Aug. But is your filing really over at uploading the ITR on Income Tax website (which we commonly know as e-filing now). The answer is "No".
What is left then if this uploading does not complete the filing process?
The uploading of ITR only completes part of the obligation. The ITR ones uploaded generates an Acknowledgement "ITR V" which needs to be printed and signed within 120 days of uploading it and to be sent physically (not scanned) to CPC, Bangalore at the address mentioned in the ITR V itself. If this does not reach CPC within 120 days, the return uploaded becomes invalid and is treated as if it is never filed.
Does this sending completes my part of work or it gets completed when it reaches CPC?
Since it is sent through post and CPC handles bulk, the chances of this getting lost somewhere in the process exist and you need to track this till it reached CPC, Bangalore and a confirmation is issued by them. This can be checked online in your e-filing login. Now, CPC sends confirmation through SMS and e-mails both. If it does not reach, even if you have sent it, you may have resend it and track it till receipt is issued by CPC.
Is it over now, after receipt is issued by CPC?
Yes, the filing process is over and now you can wait for your refund / confirmation that there is no demand from CPC which takes few months. CPC processes these ITRs filed by you and confirms if the ITR filed is accepted by them as it is / some changes are made by them.
An intimation u/s 143(1) is issued by CPC after it is processed which has 2 columns - 1 shows the numbers as mentioned by you in your ITR and the other mentions the numbers as calculated by CPC. If both are same, it is accepted as it is, but if CPC has calculated separate numbers, there is some issue and you may have to get that corrected / pay extra tax as demanded by CPC in the intimation u/s 143(1).
How to get the demand rectified if there is any mistake in CPC calculations, we shall discuss in next blog.
What is left then if this uploading does not complete the filing process?
The uploading of ITR only completes part of the obligation. The ITR ones uploaded generates an Acknowledgement "ITR V" which needs to be printed and signed within 120 days of uploading it and to be sent physically (not scanned) to CPC, Bangalore at the address mentioned in the ITR V itself. If this does not reach CPC within 120 days, the return uploaded becomes invalid and is treated as if it is never filed.
Does this sending completes my part of work or it gets completed when it reaches CPC?
Since it is sent through post and CPC handles bulk, the chances of this getting lost somewhere in the process exist and you need to track this till it reached CPC, Bangalore and a confirmation is issued by them. This can be checked online in your e-filing login. Now, CPC sends confirmation through SMS and e-mails both. If it does not reach, even if you have sent it, you may have resend it and track it till receipt is issued by CPC.
Is it over now, after receipt is issued by CPC?
Yes, the filing process is over and now you can wait for your refund / confirmation that there is no demand from CPC which takes few months. CPC processes these ITRs filed by you and confirms if the ITR filed is accepted by them as it is / some changes are made by them.
An intimation u/s 143(1) is issued by CPC after it is processed which has 2 columns - 1 shows the numbers as mentioned by you in your ITR and the other mentions the numbers as calculated by CPC. If both are same, it is accepted as it is, but if CPC has calculated separate numbers, there is some issue and you may have to get that corrected / pay extra tax as demanded by CPC in the intimation u/s 143(1).
How to get the demand rectified if there is any mistake in CPC calculations, we shall discuss in next blog.
These are my personal views and should not be considered as legal advise. You are requested to consult a professional before acting on this blog.
For any query / suggestion on my blogs, feel free to write to me at piyushsgarg@gmail.com.
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